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Consumer protection (11 - 20 of 43 items)
Financial Audit: Bureau of Consumer Financial Protection's Fiscal Year 2011 Financial Statements
GAO-12-186: Published: Nov 15, 2011. Publicly Released: Nov 15, 2011.
Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act, referred to as the Consumer Financial Protection Act of 2010, created the Bureau of Consumer Financial Protection (CFPB). The act charged it with the responsibility of regulating the offering and provision of consumer financial products or services under the federal consumer financial laws. The act also requires CFPB to annu...
Residential Appraisals: Opportunities to Enhance Oversight of an Evolving Industry
GAO-11-653: Published: Jul 13, 2011. Publicly Released: Jul 13, 2011.
Real estate valuations, which encompass appraisals and other estimation methods, have come under increased scrutiny in the wake of the recent mortgage crisis. The Dodd- Frank Wall Street Reform and Consumer Protection Act (the Act) mandated that GAO study the various valuation methods and the options available for selecting appraisers, as well as the Home Valuation Code of Conduct (HVCC), which es...
Person-To-Person Lending: New Regulatory Challenges Could Emerge as the Industry Grows
GAO-11-613: Published: Jul 7, 2011. Publicly Released: Jul 7, 2011.
Over the last decade, Internet-based platforms have emerged that allow individuals to lend money to other individuals in what has become known as person-to-person lending. These online platforms present a new source of credit for borrowers and a potential investment opportunity for those with capital to lend. Both for-profit and nonprofit options exist, allowing for income-generating and philanthr...
Mortgage Foreclosures: Documentation Problems Reveal Need for Ongoing Regulatory Oversight
GAO-11-433: Published: May 2, 2011. Publicly Released: May 5, 2011.
Mortgage servicers--entities that manage home mortgage loans--halted foreclosures throughout the country in September 2010, finding that documents required to be provided to courts in some states may have been improperly signed or notarized. In addition, academics and court cases are raising questions over whether foreclosures are being brought properly because of concerns over how loans were tran...
Consumer Finance: Regulatory Coverage Generally Exists for Financial Planners, but Consumer Protection Issues Remain
GAO-11-235: Published: Jan 18, 2011. Publicly Released: Jan 18, 2011.
Consumers are increasingly turning for help to financial planners-- individuals who help clients meet their financial goals by providing assistance with such things as selecting investments and insurance products, and managing tax and estate planning. The Dodd-Frank Wall Street Reform and Consumer Protection Act mandated that GAO study the oversight of financial planners. This report examines (1)...
Food Labeling: FDA Needs to Reassess Its Approach to Protecting Consumers from False or Misleading Claims
GAO-11-102: Published: Jan 14, 2011. Publicly Released: Jan 14, 2011.
The Food and Drug Administration (FDA) oversees federal requirements to prohibit false or misleading food labels; the Federal Trade Commission enforces the prohibition against false or misleading advertising. By statute, health claims on food labels must have significant scientific agreement, but in 2002, in response to a court decision, FDA decided to allow qualified health claims with less scien...
All-Terrain Vehicles: How They Are Used, Crashes, and Sales of Adult-Sized Vehicles for Children's Use
GAO-10-418: Published: Apr 8, 2010. Publicly Released: Apr 8, 2010.
All-terrain vehicles (ATV), which are off-road motorized vehicles, usually with four tires, a straddle seat for the operator, and handlebars for steering control, have become increasingly popular. However, ATV fatalities and injuries have increased over the last decade and are a matter of concern to the Consumer Product Safety Commission (Commission), which oversees ATV safety, and to others. Many...
Household Goods Moving Industry: Progress Has Been Made in Enforcement, but Increased Focus on Consumer Protection Is Needed
GAO-10-38: Published: Oct 30, 2009. Publicly Released: Nov 30, 2009.
Each year, the Federal Motor Carrier Safety Administration (FMCSA) within the Department of Transportation (DOT) receives about 3,000 consumer complaints regarding interstate moving companies: some involve egregious offenses, such as holding goods hostage. Over the years, Congress and GAO have raised concerns about the adequacy of FMCSA's oversight of the industry. As requested, GAO reviewed the (...
Credit Cards: Fair Debt Collection Practices Act Could Better Reflect the Evolving Debt Collection Marketplace and Use of Technology
GAO-09-748: Published: Sep 21, 2009. Publicly Released: Oct 21, 2009.
Approximately 6.6 percent of credit cards were 30 or more days past due in the first quarter of 2009--the highest rate in 18 years. To recover delinquent debt, credit card issuers may use their own collection departments, outside collection agencies, collection law firms, or sell the debt. GAO was asked to examine (1) the federal and state consumer protections and enforcement responsibilities rela...
Consumer Product Safety Commission: Better Data Collection and Assessment of Consumer Information Efforts Could Help Protect Minority Children
GAO-09-731: Published: Aug 5, 2009. Publicly Released: Aug 5, 2009.
In 2004, the U.S. Consumer Product Safety Commission (CPSC) estimated that 29,400 deaths in the United States were related to consumer products. As required under Section 107 of the Consumer Product Safety Improvement Act of 2008, this study reviews what is known about the relative incidence of preventable injuries and deaths among minority children associated with products intended for children's...